Common use of POSSESSORY INTEREST Clause in Contracts

POSSESSORY INTEREST. Licensee acknowledges that they have been informed that under Section 107 of the Revenue and Taxation Code of the State of California, the Marin County Assessor is required to place a value on all possessory interests. Possessory interest is defined as the right of a private taxable person or entity to use property owned by a tax-exempt agency for private purposes. A possessory interest tax will, therefore, be levied by the County Assessor on this property against the Licensee as of the lien date, which is March 1 of each year.

POSSESSORY INTEREST. Licensee acknowledges that they have been informed that under Section 107 of the Revenue and Taxation Code of the State of California, the Marin County Assessor is required to place a value on all possessory interests. Possessory interest is defined as the right of a private taxable person or entity to use property owned by a tax-exempt agency for private purposes. A possessory interest tax willmay, therefore, be levied by the County Assessor on this property against the Licensee as of the lien date, which is March January 1 of each year.

POSSESSORY INTEREST. Licensee Lessee acknowledges that they have been informed that under Section 107 of the Revenue and Taxation Code of the State of California, the Marin County Assessor is required to place a value on all possessory interests. Possessory interest is defined as the right of a private taxable person or entity to use property owned by a tax-exempt agency for private purposes. A possessory interest tax will, therefore, be levied by the County Assessor on this property against the Licensee Lessee as of the lien date, which is March 1 of each year.

POSSESSORY INTEREST. Licensee Lessee acknowledges that they have been informed that under Section 107 of the Revenue and Taxation Code of the State of California, the Marin County Assessor is required to place a value on all possessory interests. Possessory interest is defined as the right of a private taxable person or entity to use property owned by a tax-tax exempt agency for private purposes. A possessory interest tax will, therefore, be levied by the County Assessor on this property against the Licensee Lessee as of the lien date, date which is March 1 of each year.